Students by large do not have a lot of money, even those who do, need to remain conscious of interest charges and fees that can quickly deplete what funds they do have in their accounts. Opening a bank account can be a first financial experience for many students. Unguided, they might find such experience unpleasant or unsatisfying having to navigate the many options offered by financial institutions. Luckily, most banks and credit unions have realized the potential customer base they have in students' population. Most of them offer students friendly financial packages to attract them and hope to keep them for a lifetime.

How to

There are many tips and ways for students to get most of the banking experience if they focus their search efforts toward students friendly and "FREE" services offered by many financial institutions. Here are the basic criteria to sort through:

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There are so many other ways for students to get most of the banking experience given time and patience to know their campus, get involved with the community and explore available businesses and services. At the end, banking is like other commodities and services; they are competitive, and the winner gets to safeguard your hard-earned money. Treat this experience with excitement but proceed armed with knowledge that awarding and being awarded is based on mutual trust.

Practice

Now that you know the basic tips and ways for students to get most of the banking experience, think of paying it forward and discuss other tips and ways with a friend or a family member!

Congratulations! Now Test your knowledge about Banking!

Would you like to review again? You can start over at Introduction.

To review the full module on Banking, click here.

The Penn State Sokolov-Miller Family Financial and Life Skills Center hopes you have enjoyed this module in the MoneyCounts: A Penn State Financial Literacy Series. Please tell us how we can serve you better, leave us a feedback, ask a question, or request additional information at: finlit@psu.edu